Gladstone Institutional Advisory LLC Purchases 238 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Posted by on Apr 22nd, 2023

Gladstone Institutional Advisory LLC boosted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Get Rating) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,840 shares of the construction company’s stock after purchasing an additional 238 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Advanced Drainage Systems were worth $233,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tobam bought a new position in shares of Advanced Drainage Systems in the third quarter worth about $30,000. EverSource Wealth Advisors LLC bought a new position in shares of Advanced Drainage Systems in the third quarter worth about $30,000. Neo Ivy Capital Management bought a new position in shares of Advanced Drainage Systems in the second quarter worth about $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Advanced Drainage Systems in the third quarter worth about $37,000. Finally, CWM LLC raised its stake in shares of Advanced Drainage Systems by 63.1% in the fourth quarter. CWM LLC now owns 478 shares of the construction company’s stock worth $39,000 after acquiring an additional 185 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Down 0.3 %

Shares of NYSE WMS opened at $84.19 on Friday. The stock has a market cap of $6.84 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.91 and a beta of 1.38. The firm has a 50 day moving average price of $84.95 and a 200 day moving average price of $92.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.89 and a current ratio of 3.13. Advanced Drainage Systems, Inc. has a 52-week low of $75.02 and a 52-week high of $153.36.

Advanced Drainage Systems (NYSE:WMS – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The construction company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.05). The firm had revenue of $655.20 million for the quarter, compared to analyst estimates of $713.57 million. Advanced Drainage Systems had a net margin of 14.93% and a return on equity of 50.65%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts expect that Advanced Drainage Systems, Inc. will post 5.72 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 8.65%.

Insider Transactions at Advanced Drainage Systems

In other news, CAO Kevin C. Talley sold 22,006 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $89.67, for a total transaction of $1,973,278.02. Following the completion of the sale, the chief accounting officer now owns 40,019 shares of the company’s stock, valued at $3,588,503.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Advanced Drainage Systems from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Advanced Drainage Systems from $147.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, March 21st. Oppenheimer began coverage on shares of Advanced Drainage Systems in a research note on Tuesday. They set an “outperform” rating and a $108.00 price target for the company. Loop Capital dropped their price target on shares of Advanced Drainage Systems from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, March 24th. Finally, StockNews.com began coverage on shares of Advanced Drainage Systems in a research note on Thursday, March 16th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Advanced Drainage Systems Profile

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Advanced Drainage Systems, Inc engages in the manufacture of thermoplastic corrugated pipe, which provides a suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Pipe, Infiltrator, International, and Allied Products & Other.

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Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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